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The U.S. gross domestic product — the broadest measure of economic activity — grew a revised 5.2% in the third quarter of 2023. That's the highest quarterly GDP growth in nearly two years, according to the Bureau of Economic Analysis. Reade Pickert, Federal Reserve editor for Bloomberg, joins CBS News to unpack the state of the economy.
Wholesale prices fell half a percentage point last month, according to the latest Producer Price Index report, signaling a possible ease in inflation. Greg Robb, a senior reporter and economics editor for MarketWatch, joined CBS News to discuss the numbers.
CBS News business analyst Jill Schlesinger talks about the importance of a Missouri realty case that awarded a group of home sellers about $1.8 billion in damages, and how it might lead to changes in the housing market. She also touches on mortgage rates and whether or not we might be headed into a housing recession.
The lack of housing supply in the United States is related to the ongoing spikes in interest rates. Mark Hamrick, a senior economic analyst for Bankrate, joins CBS News to explain the mortgage "lock-in effect," which may be keeping homes off the market.
The U.S. Real GDP increased at an annual rate of 2.1% for the second quarter of 2023, according to a revised report released Thursday by the Bureau of Economic Analysis. Julia Pollak, chief economist for ZipRecruiter, joined CBS News to discuss the numbers.
The largest drop in pessimism about the economy since summer 2022 has come from Republicans.
Economic forecasts had recession on the mind earlier this year, because of concerns over inflation and interest rate hikes to combat it. But the labor market has stayed strong, price increases have eased and people are still making purchases. Abha Bhattarai, economics correspondent for the Washington Post, joined CBS News to discuss.
The latest jobs report is showing a strong labor market in the face of inflation-fighting interest rate hikes, with 187,000 jobs added in July. And the unemployment rate is approaching a 50-year low at 3.5%. Daniel Zhao, lead economist at Glassdoor, joined CBS News to discuss the new numbers.
There were some positive signs last week that the economy might be holding firm. Mark Strassmann has the details.
U.S. economic growth accelerated last quarter, boosting hopes that a long-predicted recession can be avoided.
New data from the Bureau of Economic Analysis shows the GDP grew at a rate of 2.4% between April and June of 2023, nearly half a point more than the 2% rate seen in the first quarter. Hardika Singh, markets reporter for the Wall Street Journal, joined CBS News to talk about the newly released numbers.
The Federal Reserve is expected to raise interest rates again Wednesday after pausing more than a year of rate hikes in June. Experts believe the central bank will increase rates by one-quarter of a percentage point as part of its ongoing fight against high inflation. Joe Rennison, markets reporter for The New York Times, joined CBS News to discuss.
A new Goldman Sachs survey shows Wall Street investors are still bracing for a recession despite inflation easing and a healthy job market. Greg Robb, an economics editor for MarketWatch, joined CBS News to discuss.
Inflation cooled in June to 3%, the lowest in more than two years, according to the U.S. Labor Department's Consumer Price Index. CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss what this means for consumers and whether the Federal Reserve will continue to raise rates.
The U.S. added 209,000 jobs in June, the Labor Department reported on Friday. The unemployment rate dropped slightly to 3.6% from 3.7% in the prior month. CBS News reporter Sarah Ewall-Wice has more.
Several of the nation's top banks excelled in their yearly stress test, according to the Federal Reserve. The Fed tested how 23 banks — each with more than $100 billion in assets — would fare in an economic downturn. Lori Bettinger, president of a network of community banks known as BancAlliance, joins CBS News to break down the test results.
President Biden touted his administration's economic policies during a speech in Chicago on Wednesday. The pitch comes as the president ramps up his reelection campaign, but recent CBS News polling found a majority of Americans think the condition of the economy is bad. Ed O'Keefe and Robert Costa join "America Decides" to break down the remarks.
For the last year, experts have been making predictions of a recession but it hasn't arrived. Edward Yardeni, president and chief investment strategist at Yardeni Research, joins CBS News to break down what is and isn't happening with the economy.
After a year of recession fears, some economists are now saying those financial concerns are cooling as the U.S. job market continues to show resilience. Rick Newman, a senior columnist at Yahoo Finance, joins CBS News to discuss what could be ahead for the economy.
"People have been using the wrong R-word to describe the economy," one economist said. "It's resilience — not recession."
While prices of many goods and services may be cheaper this summer when compared to last year, don't expect to see any dips in your power bills. Analysts say average electricity prices are expected to be at least 2% higher. Associate managing editor for CBS MoneyWatch Irina Ivanova has more.
CBS News' Ramy Inocencio has today's MoneyWatch International, keeping an eye on where Americans are traveling internationally, and why the fourth biggest economy in the world, Germany, is falling on tough times.
With a default deadline looming, CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss what's exactly at stake and how it could impact Americans.
Negotiations on the debt ceiling stalled Tuesday as the White House and House Republicans remain divided over spending cuts. Discussions ended late Tuesday and economists warn that the stock market could crash and the economy may experience a severe recession if no agreement is reached and the United States defaults on its debt. Congressional correspondent Scott MacFarlane reports from Washington.
"It's hard to overstate how bad it would be," one expert said. Everything from Social Security payments to your retirement fund could get hit.
Japanese media say a large part of the fuselage of a U.S. Air Force CV-22 Osprey that crashed almost a week earlier has been found with 5 crew members' bodies inside.
Israel's military says it has expanded its ground operations to every part of Gaza in pursuit of Hamas.
Tensions over the Israel-Hamas war are boiling over at colleges, leaving students and faculty angry, fearful and rattled. Some are working to bridge the divide and find a way toward understanding.
U.S. officials said drones and missiles were fired at 3 commercial vessels in the Red Sea on Sunday.
Alaska Airlines has reached a deal to buy Hawaiian Airlines, the companies announced Sunday. The airlines said the move will unlock more travel destinations for flyers.
Manuel Rocha, who served as U.S. ambassador to Bolivia, has been arrested in a long-running FBI investigation. He is accused of serving as an agent of Cuba.
Derek Chauvin was allegedly stabbed 22 times by a fellow inmate in late November.
Investigators believe the suspect started a fire inside the house before he tried to leave and was shot by police.
Directing "Barbie" was a dream job for Greta Gerwig, the Oscar-nominated filmmaker behind "Little Women" and "Lady Bird." Now she's putting her own stamp on two "Chronicles of Narnia" movies.
Japanese media say a large part of the fuselage of a U.S. Air Force CV-22 Osprey that crashed almost a week earlier has been found with 5 crew members' bodies inside.
Derek Chauvin was allegedly stabbed 22 times by a fellow inmate in late November.
Manuel Rocha, who served as U.S. ambassador to Bolivia, has been arrested in a long-running FBI investigation. He is accused of serving as an agent of Cuba.
This year's Kennedy Center honorees are Billy Crystal, Renée Fleming, Barry Gibb, Queen Latifah, and Dionne Warwick.
The National Weather Service on Saturday issued a flood watch for most of southwest Washington and northwest Oregon that will remain in place until Wednesday afternoon.
General Motors projects subscription fees to bring in as much as $25 billion a year by 2030.
Retail giant joins other big advertisers that are distancing themselves from X following Musk's support for an antisemitic post.
Mortgage rates recently hit their highest levels in more than two decades, pricing many out of the market. Here's what to expect in 2024.
Cantaloupes contaminated with the bacteria have been linked to more than 100 illnesses and two deaths, health officials said.
Ordered something online you want to return? Some retailers say, "Keep it," and they'll still give you your money back.
Manuel Rocha, who served as U.S. ambassador to Bolivia, has been arrested in a long-running FBI investigation. He is accused of serving as an agent of Cuba.
This year's Kennedy Center honorees are Billy Crystal, Renée Fleming, Barry Gibb, Queen Latifah, and Dionne Warwick.
Israel dismissed warnings leading up to the terrorist attack, Rep. Mike Turner, the chair of the House Intelligence Committee, said.
On this "Face the Nation" broadcast, National Security Council spokesperson John Kirby and House Intelligence Committee chair Rep. Mike Turner join Margaret Brennan.
The following is a transcript of an interview with Dr. Scott Gottlieb, former FDA commissioner, that aired on Dec. 3, 2023.
Former FDA commissioner Dr. Scott Gottlieb tells "Face the Nation" that the U.S. is looking at a "more typical winter pathogen season" despite a cluster of unusual pneumonia in Ohio. Gottlieb says the CDC has looked into the cluster and found "it's a known bacteria that is epidemic every three to five years so we've seen epidemics of this in the past."
On average, a staggering 132 Americans kill themselves every single day. Experts say addressing this major public health crisis requires ending the shame that can be attached to talking about mental health struggles, which prevents those suffering from finding help.
On average, a staggering 132 Americans kill themselves every single day, with every demographic at risk of suicidal ideation. Correspondent Susan Spencer talks with experts about this major public health crisis and the need to eliminate the shame that can be attached to mental health struggles, which prevents those suffering from finding the help that could save their lives. Spencer also talks with a professor who undertook about 10 suicide attempts, from as young as age six, but who - after defying the stigma by writing about it - today believes he will never do so again. [If you or someone you know is in emotional distress or a suicidal crisis, you can reach the 988 Suicide & Crisis Lifeline by calling or texting 988. You can also chat with the 988 Suicide & Crisis Lifeline at 988lifeline.org/chat/]
Cases of other respiratory illnesses, including flu and RSV, are also on the rise.
What to know about the pneumonia cases affecting children in the U.S., as well as expert advice on how to protect kids from respiratory illnesses.
Japanese media say a large part of the fuselage of a U.S. Air Force CV-22 Osprey that crashed almost a week earlier has been found with 5 crew members' bodies inside.
U.S. officials said drones and missiles were fired at 3 commercial vessels in the Red Sea on Sunday.
Israel's military says it has expanded its ground operations to every part of Gaza in pursuit of Hamas.
Israel dismissed warnings leading up to the terrorist attack, Rep. Mike Turner, the chair of the House Intelligence Committee, said.
A guidance system problem during final approach prompted two space station cosmonauts to take over by remote control.
Mark Sheppard said he's suffered six major heart attacks. The "Supernatural" actor says he collapsed in his kitchen before being brought to the hospital.
With Neil Peart they became Canada's most legendary rock group. Lifeson and Lee (author of a new memoir, "My Effin' Life") talk about their particular blend of musicianship; how tragedy upended the band; and what might constitute Rush's next chapter.
The progressive rock group Rush, formed decades ago in the Toronto suburbs by guitarist Alex Lifeson, bass player Geddy Lee and drummer Neil Peart, became Canada's most legendary rock band ever, with more than 40 million albums sold. Lifeson and Lee (author of a new memoir, "My Effin' Life") talk with correspondent Jim Axelrod about their particular blend of musicianship, stagecraft and goofiness; how tragedy upended the band with the death of Peart; and what might constitute Rush's next chapter.
Born in England, Archibald Leach grew up impoverished and neglected before finding his way to the U.S. and transforming himself into the debonair movie star. The BritBox series "Archie" explores the actor's complicated, hidden past.
Cary Grant was considered one of the world's best-known movie stars, but it turns out there was plenty that audiences did not know about the debonair actor. In fact, he was born in England as Archibald Leach, and grew up impoverished and neglected, before finding his way to the U.S. and transforming into the silver screen star we know as Cary Grant. The BritBox series "Archie" explores the actor's complicated past. Correspondent Seth Doane talks with actor Jason Isaacs, who plays Grant, as well as Grant's fourth wife, actress Dyan Cannon, who is a producer of the series.
Automakers, including General Motors, Ford and BMW, are charging drivers subscription fees to use certain state-of-the-art features, such as remote locking and hands-free cruise control. Carter Evans has details.
Amazon has introduced a new chatbot powered by artificial intelligence, called Amazon Q. The AI assistant is focused on assisting businesses, not consumers. Jason Hinder, editor-in-chief for ZDNET, joined CBS News to discuss the new chatbot.
What happens when a legacy media outlet turns to artificial intelligence? Seth Lewis, professor and director of journalism at the University of Oregon, joins CBS News to dig into the recent reporting about Sports Illustrated and AI — and what it reveals about the future of news.
A major ransomware attack affected 30 hospitals and more than 200 health care sites across six states. CBS News homeland security and justice reporter Nicole Sganga looks at what happened to some patients.
The billionaire owner of X took a defensive tone, saying that "the whole world will know that those advertisers killed the company."
Phasing out fossil fuels has been a heated debate at the U.N. Climate Change Conference, known as COP28, in Dubai, and many climate activists fear the process has been compromised by being held in the oil rich United Arab Emirates. The Biden administration has touted record levels of federal funding for clean energy projects, but the U.S. is also producing record amounts of crude oil. Ben Tracy reports.
The U.S. will participate in the United Arab Emirates' declaration to promote sustainable agriculture, Secretary of State Antony Blinken announced at the COP28 climate summit in Dubai. CBS News national correspondent Dave Malkoff joins to unpack the overarching goals of the conference.
The Wildlife Conservation Society believes preserving nature can help solve the problems associated with climate change. Monica Medina, president and CEO of the Wildlife Conservation Society, joined CBS News to talk about her organization's goals at the COP28 climate summit in Dubai.
The United Nations Climate Change Conference, known as COP28, kicked off Thursday in Dubai, and delegates already agreed to a major deal. CBS News senior national and environmental correspondent Ben Tracy has more.
World leaders working to combat climate change kicked off the annual COP28 climate summit Thursday by adopting a loss and damage fund for natural disasters. CBS News senior national and environmental correspondent Ben Tracy has more.
Derek Chauvin was allegedly stabbed 22 times by a fellow inmate in late November.
Manuel Rocha, who served as U.S. ambassador to Bolivia, has been arrested in a long-running FBI investigation. He is accused of serving as an agent of Cuba.
Investigators believe the suspect started a fire inside the house before he tried to leave and was shot by police.
Heidi Firkus called 911 to report a burglar breaking into her home. Her husband later told police his gun fired while he struggled with the intruder, but something in Nick Firkus' story struck police as odd.
A man identified as a suspect in the killings of three Los Angeles homeless men as they slept this week was already in custody in connection with another murder that occurred in nearby San Dimas, police said Saturday.
A guidance system problem during final approach prompted two space station cosmonauts to take over by remote control.
NASA is facing challenges with SpaceX's moon lander and the new Axiom spacesuits for moonwalkers.
Astronomers have discovered six planets orbiting a bright, nearby star in perfect synchrony like a grand cosmic orchestra.
Scientists have discovered a six-planet solar system in the Milky Way that astronomers say has been untouched by outside forces since its birth billions of years ago. The six planets orbit a star "perfectly" in sync. Derrick Pitts, chief astronomer at the Franklin Institute, joined CBS News to talk about the discovery.
NASA revealed multiple new panoramic images of clouds and dust in Mars' skies, as well as one of its tiny two moons, taken last May.
Matthew Trussler was found dead at the home he shared with his fiancée Melissa Turner. See the evidence that led to authorities piecing together his death.
Marlene Warren answered the door to her Wellington, FL, home and was fatally gunned down by a mysterious clown. Despite eyewitnesses, circumstantial evidence, and the identification a suspect early on, it would take more than 30 years for her killer to face justice.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Illinois mom wrote, "If something ever happens to me, please make sure the number one person of interest is Tim." Take a look at the evidence that led to Tim Bliefnick's arrest.
Inside South Carolina's "trial of the century" — how investigators built their case
At Tampa's Florida Aquarium, an innovative robot is giving chronically ill children the chance to tour the aquarium without having to leave the hospital. Mark Strassmann reports.
The University of Miami School of Law is offering a course focused on pop superstar Taylor Swift. The course covers her efforts to regain copyright control of her music as well as the times she has been sued for alleged intellectual property theft. Cristian Benavides has the story.
After nearly being destroyed in a fire over four years ago, Notre Dame's new spire is being installed after the original collapsed in the 2019 blaze. Elaine Cobbe reports.
The release of Palestinian prisoners during the weeklong cease-fire has brought renewed criticism over Israel's detention policies. According to the U.N., between 500 and 1,000 Palestinian children in the West Bank are held in Israeli military detention despite not being charged with any crimes. Imtiaz Tyab reports.
As the war between Israel and Hamas resumes, U.S. officials are urging Israel to try to minimize civilian casualties. Thousands of Palestinians have already been killed in the conflict. Nicole Sganga reports.